Discover an exceptional investment opportunity featuring a single, national, triple net tenant with this expansive warehouse property. With approximately 62,000 square feet of versatile space situated on approximately 3 acres, this property is designated under the Official Plan as Urban Residential, making it an ideal candidate for future development. The tenant currently occupies the entire building and has recently signed a new lease with robust annual escalations and favorable renewal provisions, ensuring a stable income stream. The property offers a remarkable return on investment with a cap rate just under 8% and annual escalation's through 2028. Ideally situated in a prime locale near the intersection of Queensway and Norfolk in downtown Simcoe, this property provides convenient access and ample on-site parking. Dont miss out on this top-notch industrial opportunity. |
Price | $3,850,000 |
Taxes: | $27370.75 |
Tax Type: | Annual |
Occupancy by: | Tenant |
Address: | 80 Second Ave West , Norfolk, N3Y 2P3, Ontario |
Postal Code: | N3Y 2P3 |
Province/State: | Ontario |
Legal Description: | LT 2-6 BLK 7 PL 182; PT LT 1 BLK 7 PL 18 |
Lot Size: | 570.00 x 311.00 (Feet) |
Directions/Cross Streets: | SECOND/NORFOLK |
Category: | Free Standing |
Use: | Warehousing |
Building Percentage: | Y |
Total Area: | 62000.00 |
Total Area Code: | Sq Ft |
Industrial Area: | 62000 |
Office/Appartment Area Code: | Sq Ft |
Sprinklers: | Y |
Rail: | N |
Clear Height Feet: | 18 |
Truck Level Shipping Doors #: | 3 |
Double Man Shipping Doors #: | 0 |
Drive-In Level Shipping Doors #: | 2 |
Grade Level Shipping Doors #: | 2 |
Heat Type: | None |
Central Air Conditioning: | N |
Water: | Municipal |
Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
THE AGENCY |
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Book Showing | Email a Friend |
Type: | Com - Industrial |
Area: | Norfolk |
Municipality: | Norfolk |
Neighbourhood: | Simcoe |
Lot Size: | 570.00 x 311.00(Feet) |
Tax: | $27,370.75 |